Michael Phelps apology allows him to keep endorsements

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Phelps: Behavior 'inappropriate'
[SIZE=-1]Baltimore Sun, United States [/SIZE]
[SIZE=-1]This isn't Phelps' first public stumble. In 2004, when he was 19 and a few months removed from winning six gold medals at the Olympics in Athens, he was pulled over in Salisbury after rolling through a stop sign and charged with driving while intoxicated. Phelps publicly apologized, famously going on the Today show to ask the country for forgiveness and calling it an "isolated incident." He agreed to a plea deal with prosecutors that sentenced him to 18 months of probation, during which he was required to refrain from using drugs and alcohol, and to speak to kids about the dangers of making bad decisions. [/SIZE]

[SIZE=-1]As a result of his contrition, Phelps didn't lose any endorsements, which included Speedo, Visa, Omega watches, PowerBar and AT&T. He has recently added Subway, Kellogg's, Mazda and several others to his portfolio. Experts in the sports marketing business predicted the fallout would likely be minimal this time as well and praised Phelps' handlers for dealing with the situation swiftly and openly - issuing a statement admitting his mistake and apologizing. [/SIZE]

[SIZE=-1]"I would not expect him to lose a single endorsement, or any potential endorsements," said Marc Ganis, president of SportsCorp., a Chicago-based sports business consulting firm. "He has handled himself so well to date that he has earned the benefit of the doubt. Especially at this age, experimentation with things like marijuana for young people in their late teens and early 20s is an understandable action."[/SIZE]

[SIZE=-1]Athletes are allowed to make a mistake, Ganis said, as long as the bad behavior isn't repeated, which would "demonstrate a character flaw." More important, he didn't attempt to cover it up, which, according to Ganis, could damage Phelps' career further by calling his character into question. ...[/SIZE]


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